Housing & Urban Development Corporation Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Housing & Urban Development Corporation has fixed 29 March 2024 as record date for payment of interim dividend of Rs 1.50 per equity share for FY 2024.

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The Board of Housing & Urban Development Corporation at its meeting held on 20 March 2024 has approved raising of funds through issue of bonds/debentures, up to a maximum amount of Rs. 40,000 Crore during financial year 2024-25, depending upon actual funds requirement; and increase in overall borrowing limit to Rs. 1,50,000 crore from existing limit of Rs.1,00,000 crore as earlier approved by shareholders u/s 180(1)(c) of the Companies Act, 2013, subject to the approval of same by Shareholders.

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Housing & Urban Development Corp. announced that the Board of Directors of the Company at its meeting held on 20 March 2024, has recommended a Interim dividend of Rs.1.5 per share (i.e.15%), subject to the approval of the shareholders.

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Meanwhile, the board has also approved to increase overall borrowing limit to Rs 1,50,000 crore from existing limit of Rs 1,00,000 crore.

Further, the board declared dividend of Rs 1.50 per share of Rs 10 each. The record date has been fixed at 29 March 2024.

Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.

The company’s consolidated net profit surged 104.2% to Rs 519.23 crore on 17.6% increase in total income to Rs 2,022.98 crore in Q3 FY24 over Q3 FY23.

The scrip fell 0.99% to Rs 175.45 on the BSE.

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